Dinecroft Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01903884 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

DINECROFT LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A R Baker

P S Baker

K Baker

SECRETARY:

P S Baker

REGISTERED OFFICE:

Stourbridge Road Industrial Estate

Faraday Drive

Bridgnorth

Shropshire

WV15 5BA

REGISTERED NUMBER:

01903884 (England and Wales)

ACCOUNTANTS:

Crombies Accountants Limited

Chartered Accountants

34 Waterloo Road

Wolverhampton

West Midlands

WV1 4DG

FIXED ASSETS

Tangible assets

4

637,515

663,179

Investments

5

1,503,253

1,503,253

2,140,768

2,166,432

CURRENT ASSETS

Debtors

496,081

195,143

Prepayments and accrued income

27,725

14,647

Cash at bank

12,558

202,891

536,364

412,681

CREDITORS

Amounts falling due within one year

975,409

737,767

NET CURRENT LIABILITIES

(439,045

)

(325,086

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,701,723

1,841,346

CREDITORS

Amounts falling due after more than one year

(56,063

)

(168,097

)

PROVISIONS FOR LIABILITIES

(82,137

)

(82,137

)

NET ASSETS

1,563,523

1,591,112

CAPITAL AND RESERVES

Called up share capital

90

90

Fair value reserve

7

788,680

788,680

Retained earnings

774,753

802,342

SHAREHOLDERS' FUNDS

1,563,523

1,591,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 12 December 2017 and were signed on its behalf by:

A R Baker - Director

1.	STATUTORY INFORMATION

Dinecroft Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 25% on cost

Freehold property - 2% on cost

All fixed assets are initially recorded at cost. Freehold land and buildings were professionally revalued on 10th

March 2005 and will be subsequently reassessed annually by the directors.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Investment properties

Investment properties are stated at directors valuation at the year end with periodic professional valuations

reflected. Surpluses or deficits arising on valuations are taken to the revaluation reserve unless a deficit, or its

reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the

profit and loss account for the year. Valuations are carried out each year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2016

and 31 March 2017

886,885

DEPRECIATION

At 1 April 2016

223,706

Charge for year

25,664

At 31 March 2017

249,370

NET BOOK VALUE

At 31 March 2017

637,515

At 31 March 2016

663,179

Cost or valuation at 31 March 2017 is represented by:

Totals

£

Valuation in 2005

350,773

Cost

536,112

886,885

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST OR VALUATION

At 1 April 2016

and 31 March 2017

18,853

DEPRECIATION

At 1 April 2016

10,899

Charge for year

1,989

At 31 March 2017

12,888

NET BOOK VALUE

At 31 March 2017

5,965

At 31 March 2016

7,954

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 April 2016

and 31 March 2017

1,503,253

NET BOOK VALUE

At 31 March 2017

1,503,253

At 31 March 2016

1,503,253

Cost or valuation at 31 March 2017 is represented by:

Totals

£

Valuation in 2005

294,074

Cost

1,209,179

1,503,253

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

161,820

264,308

The long term loans are secured by fixed charges on freehold properties.

7.

RESERVES

Fair

value

reserve

£

At 1 April 2016

and 31 March 2017

788,680